Dollar falls versus euro following Fed stimulus

The dollar edged lower versus the euro on Wednesday following the Federal Reserve’s decision to extend its monetary stimulus, stating it was prepared to do even more in order to help a flagging US economic recovery.
The Fed expanded its ‘Operation Twist’ scheme, an attempt to keep borrowing costs low by buying long-term securities...

USD/CAD lower during US bank holiday

The US dollar lost ground on its Canadian counterpart today, and looked set to stay within a narrow range as US markets were closed for the country’s Memorial Day holiday.
USD/CAD reached 1.0224 during European trading this afternoon, the lowest the pair has been since 23 May; however, they subsequently consolidated at 1.0253, losing...

Canadian dollar gains on most peers before EU summit

The Canadian dollar gained ground against most major currencies ahead of a European Union leaders meeting in Brussels to discuss the debt crisis in the region.
The currency climbed further against the euro while US stocks erasing gains meaning it lost ground on the greenback. Wolfgang Schaeuble, the German finance minister, said on Tuesday...

Yen on the up as data lowers risk appetite

The yen held tight at two-month highs versus the dollar today, having rallied overnight as investors purchased the safe-haven currency on the back of disappointing economic data from Canada and Spain, reports Reuters.
Data revealing that Spain had fallen back into recession, the unexpected contraction of Canada’s economy in February and...

Euro loses ground on Canadian dollar

The euro has continued its fall on the Canadian dollar, as the single currency accumulated a 0.07 per cent daily loss, reports Fxstreet.com.
Canada is set to announce its GDP and raw materials price index later today. It is widely anticipated that the country’s GDP month-on-month growth will be at zero per cent, while there should be an...

Yen momentum fades

The yen fell from multi-week peaks on a number of currencies in Asia today as investors chose to book profits because demand linked to Japan’s financial year-end was fading, reports Reuters.
The last week has been dominated by the Japanese currency’s repatriation and position squaring that breached several key stop-loss levels. The...